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How to Build an Online Business by Bernadette Schwerdt

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1Mindset How to develop an entrepreneurial mindset

If someone said to you, ‘Here’s how I made a million dollars and I’m willing to share my secrets with you’, you’d listen to them, wouldn’t you? It’d be insane not to. We all know that success leaves clues, so it makes sense to follow those who have gone before and learn from what they’ve done.

Having interviewed dozens of successful online entrepreneurs, I’ve discovered that there are certain things they all have in common. Developing an ‘entrepreneurial mindset’ is one of them — a way of thinking that is slightly different from the way most people think. I’ve condensed those differences into five qualities. These entrepreneurs:

  1. trust their crazy ideas they back their judgement, listen to their instincts and persist in the face of relentless criticism
  2. get started they start small, pivot quickly and are hands on (especially at the beginning)
  3. have depth of vision they look at what the trends are and look further ahead than most (which is why their ideas are sometimes considered ‘crazy’)
  4. know what business they’re in they know what sector they operate in and who their competitors are
  5. know what problem their business solves they know exactly why a customer will buy their product and the revenue model that underpins that transaction.

The entrepreneurial mindset is not something most people are born with, but it can be learnt. That’s what step 1 is all about.

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